PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515522
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515522
Asia Pacific Acetonitrile Market, By Type, By Application, By End-User, By Country - Industry Analysis, Market Size, Market Share & Forecast from 2024-2032
REPORT HIGHLIGHT
Asia Pacific Acetonitrile Market was valued at USD 260.56 million in 2023, expanding at a CAGR of 5.5% from 2024 to 2032.
Acetonitrile also referred to as CH3CN, is a transparent, volatile, and flammable fluid with a distinctive smell. It is a byproduct of the acrylonitrile (ACN) production process and is utilized in the manufacturing of pharmaceuticals, perfumes, rubber products, pesticides, batteries, and other items. Acetonitrile is a popular solvent for extracting proteins from biological samples and is known for its superior protein precipitation capabilities compared to alternatives such as TCA and SSA. Additionally, it is employed in the extraction of fatty acids from both animal and plant oils. Proper training on safe storage and usage protocols is essential for employees handling acetonitrile.
Asia Pacific Acetonitrile Market- Market Dynamics
O The Asia Pacific Acetonitrile market is projected to experience growth due to the strong demand in the pharmaceutical and agrochemical industries.
Acetonitrile plays a crucial role as a solvent in the production and refinement of pharmaceuticals and agrochemicals, serving as an essential component in these industries. The rising demand for effective medications and agricultural products, driven by population growth and urbanization, is a major factor contributing to this increasing need. Global consumption is projected to maintain a growth rate of approximately 5%-6% annually over the next five years. Mainland China is anticipated to experience the highest growth rate at around 9% per year, while Europe will also see a rise in consumption. The use of acetonitrile in pharmaceuticals is expected to continue expanding in the coming years, as stated in the chemical economic handbook. Moreover, the heightened research and development activities in pharmaceuticals and biotechnology necessitate the use of high-purity solvents like acetonitrile, creating opportunities for market growth. Nevertheless, fluctuations in the price of acetonitrile could pose a challenge to the market's expansion.
Asia Pacific Acetonitrile Market- Key Insights
v As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.5% over the forecast period (2024-2032)
v Based on Type segmentation, Solvent was predicted to show maximum market share in the year 2023
v Based on Application segmentation, the pharmaceutical industry was the leading type in 2023
v Based on countries, China was the leading revenue generator in 2023
Asia Pacific Acetonitrile Market- Segmentation Analysis:
The Asia Pacific Acetonitrile Market is segmented based on Type, Application, End-User, and Country.
The market is divided into two categories based on Type: Derivatives and Solvent. The leading category in the market is Solvent. Acetonitrile is a remarkably adaptable solvent extensively utilized in numerous industries because of its advantageous characteristics like high polarity, low viscosity, and exceptional chemical and thermal stability. In the Asia Pacific region, its usage is mainly propelled by the pharmaceutical and agrochemical sectors.
The market is divided into three segments based on application: Pharmaceutical, Laboratory Preparation, Agrochemical, and Other sectors. In the Asia Pacific region, the pharmaceutical industry plays a crucial role in propelling the growth of the acetonitrile market. Acetonitrile's exceptional qualities as a high-purity solvent are essential in numerous pharmaceutical activities such as drug manufacturing, refining, and analytical examinations.
The market is segmented into two categories according to End-User: Pharmaceutical industry, Analytical industry, and others. The pharmaceutical industry continues to be a leading sector because of the crucial role solvents play in drug synthesis and analysis.
Asia Pacific Acetonitrile Market- Geographical Insights
The examination of the Asia Pacific Acetonitrile market encompasses nations such as India, China, South Korea, Japan, Australia, Thailand, Indonesia, and the Philippines, in addition to the remainder of the Asia Pacific (APAC). China dominates the market share primarily due to its rapid expansion in the manufacturing of generic pharmaceuticals, specialty drugs, and pesticides. Specifically, China serves as a key manufacturer of both generic and cutting-edge pharmaceuticals, necessitating a significant quantity of acetonitrile. The region's robust pharmaceutical and agrochemical sectors, coupled with favorable regulatory conditions and substantial investments in research and development, contribute to its prominence in the market.
Asia Pacific Acetonitrile Market- Competitive Landscape:
The competitive landscape of the Acetonitrile market in the Asia Pacific is shaped by major players who implement a variety of strategic approaches to stay competitive. These companies set themselves apart by focusing on purity levels, suitability for particular applications, and adherence to industry regulations when developing their products. Particularly, the production of high-purity acetonitrile for pharmaceutical and analytical purposes is a significant area of emphasis. To gain market share, companies aim to offer competitive prices without compromising on quality. Strategies such as expanding production capacities, establishing new facilities, and entering emerging markets geographically are utilized to enhance their position in the market.
Recent Developments:
v Asahi Kasei has declared that Tongsuh Petrochemical Corp., Ltd. (TSPC), its wholly-owned subsidiary in South Korea, has obtained the prestigious international certification ISCC PLUS1 for its acrylonitrile (AN) as a sustainable product on October 21, 2021. The company is set to commence the production of AN using biomass propylene in February 2022.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
ASIA PACIFIC ACETONITRILE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHT
O Honeywell International, Inc
O Thermo Fisher Scientific, Inc.
O INEOS Group Holdings S.A
O Asahi Kasei Corporation
O PetroChina Company Limited (China National Petroleum Corporation)
O Formosa Plastics Group
O Avantor, Inc.
O Nantong Acetic Acid Chemical Co., Ltd.
O Neuchem Inc.
O Nova Molecular Technologies, Inc.
O Others
ASIA PACIFIC ACETONITRILE MARKET, BY TYPE - MARKET ANALYSIS, 2019 - 2032
O Derivatives
O Solvent
ASIA PACIFIC ACETONITRILE MARKET, BY APPLICATION- MARKET ANALYSIS, 2019 - 2032
O Pharmaceutical
O Laboratory Preparation
O Agrochemical
O Others
ASIA PACIFIC ACETONITRILE MARKET, BY END-USER - MARKET ANALYSIS, 2019 - 2032
O Pharmaceutical industry
O Analytical industry
O Other
ASIA PACIFIC ACETONITRILE MARKET, BY COUNTRY- MARKET ANALYSIS, 2019 - 2032
O India
O China
O South Korea
O Japan
O Australia
O Thailand
O Indonesia
O Philippines
O Rest of APAC
Table of Contents
1. Asia Pacific Acetonitrile Market Overview
- 1.1. Study Scope
- 1.2. Market Estimation Years
2. Executive Summary
- 2.1. Market Snippet
- 2.1.1. Asia Pacific Acetonitrile Market Snippet by Type
- 2.1.2. Asia Pacific Acetonitrile Market Snippet by Application
- 2.1.3. Asia Pacific Acetonitrile Market Snippet by End-User
- 2.1.4. Asia Pacific Acetonitrile Market Snippet by Country
- 2.2. Competitive Insights
3. Asia Pacific Acetonitrile Key Market Trends
- 3.1. Asia Pacific Acetonitrile Market Drivers
- 3.1.1. Impact Analysis of Market Drivers
- 3.2. Asia Pacific Acetonitrile Market Restraints
- 3.2.1. Impact Analysis of Market Restraints
- 3.3. Asia Pacific Acetonitrile Market Opportunities
- 3.4. Asia Pacific Acetonitrile Market Future Trends
4. Asia Pacific Acetonitrile Industry Study
- 4.1. PEST Analysis
- 4.2. Porter's Five Forces Analysis
- 4.3. Growth Prospect Mapping
- 4.4. Regulatory Framework Analysis
5. Asia Pacific Acetonitrile Market: COVID-19 Impact Analysis
- 5.1. Pre-COVID-19 Impact Analysis
- 5.2. Post-COVID-19 Impact Analysis
- 5.2.1. Top Performing Segments
- 5.2.2. Marginal Growth Segments
- 5.2.3. Top Looser Segments
- 5.2.4. Marginal Loss Segments
6. Asia Pacific Acetonitrile Market Landscape
- 6.1. Asia Pacific Acetonitrile Market Share Analysis, 2023
- 6.2. Breakdown Data, by Key Manufacturer
- 6.2.1. Established Players' Analysis
- 6.2.2. Emerging Players' Analysis
7. Asia Pacific Acetonitrile Market - By Type
- 7.1. Overview
- 7.1.1. Segment Share Analysis, By Type, 2023 & 2032 (%)
- 7.1.2. Derivatives
- 7.1.3. Solvent
8. Asia Pacific Acetonitrile Market - By Application
- 8.1. Overview
- 8.1.1. Segment Share Analysis, By Application, 2023 & 2032 (%)
- 8.1.2. Pharmaceutical
- 8.1.3. Laboratory Preparation
- 8.1.4. Agrochemical
- 8.1.5. Others
9. Asia Pacific Acetonitrile Market - By End-User
- 9.1. Overview
- 9.1.1. Segment Share Analysis, By End-User, 2023 & 2032 (%)
- 9.1.2. Pharmaceutical industry
- 9.1.3. Analytical industry
- 9.1.4. Other
10. Asia Pacific Acetonitrile Market- By Geography
- 10.1. Introduction
- 10.1.1. Segment Share Analysis, By Geography, 2023 & 2032 (%)
- 10.2. Asia Pacific (APAC)
- 10.2.1. Overview
- 10.2.2. Asia Pacific Acetonitrile Key Manufacturers in Asia Pacific
- 10.2.3. Asia Pacific Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
- 10.2.4. Asia Pacific Market Size and Forecast, By Type, 2019 - 2032 (US$ Million)
- 10.2.5. Asia Pacific Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.6. Asia Pacific Market Size and Forecast, By End-User, 2019 - 2032 (US$ Million)
- 10.2.7. India
- 10.2.7.1. Overview
- 10.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.7.3. India Market Size and Forecast, By Type, 2019 - 2032 (US$ Million)
- 10.2.7.4. India Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.7.5. India Market Size and Forecast, By End-User, 2019 - 2032 (US$ Million)
- 10.2.8. China
- 10.2.8.1. Overview
- 10.2.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.8.3. China Market Size and Forecast, By Type, 2019 - 2032 (US$ Million)
- 10.2.8.4. China Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.8.5. China Market Size and Forecast, By End-User, 2019 - 2032 (US$ Million)
- 10.2.9. Japan
- 10.2.9.1. Overview
- 10.2.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.9.3. Japan Market Size and Forecast, By Type, 2019 - 2032 (US$ Million)
- 10.2.9.4. Japan Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.9.5. Japan Market Size and Forecast, By End-User, 2019 - 2032 (US$ Million)
- 10.2.10. South Korea
- 10.2.10.1. Overview
- 10.2.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.10.3. South Korea Market Size and Forecast, By Type, 2019 - 2032 (US$ Million)
- 10.2.10.4. South Korea Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.10.5. South Korea Market Size and Forecast, By End-User, 2019 - 2032 (US$ Million)
- 10.2.11. Australia
- 10.2.11.1. Overview
- 10.2.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.11.3. Australia Market Size and Forecast, By Type, 2019 - 2032 (US$ Million)
- 10.2.11.4. Australia Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.11.5. Australia Market Size and Forecast, By End-User, 2019 - 2032 (US$ Million)
- 10.2.12. Thailand
- 10.2.12.1. Overview
- 10.2.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.12.3. Thailand Market Size and Forecast, By Type, 2019 - 2032 (US$ Million)
- 10.2.12.4. Thailand Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.12.5. Thailand Market Size and Forecast, By End-User, 2019 - 2032 (US$ Million)
- 10.2.13. Indonesia
- 10.2.13.1. Overview
- 10.2.13.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.13.3. Indonesia Market Size and Forecast, By Type, 2019 - 2032 (US$ Million)
- 10.2.13.4. Indonesia Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.13.5. Indonesia Market Size and Forecast, By End-User, 2019 - 2032 (US$ Million)
- 10.2.14. Philippines
- 10.2.14.1. Overview
- 10.2.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.14.3. Philippines Market Size and Forecast, By Type, 2019 - 2032 (US$ Million)
- 10.2.14.4. Philippines Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.14.5. Philippines Market Size and Forecast, By End-User, 2019 - 2032 (US$ Million)
- 10.2.15. Rest of APAC
- 10.2.15.1. Overview
- 10.2.15.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.15.3. Rest of APAC Market Size and Forecast, By Type, 2019 - 2032 (US$ Million)
- 10.2.15.4. Rest of APAC Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.15.5. Rest of APAC Market Size and Forecast, By End-User, 2019 - 2032 (US$ Million)
11. Key Vendor Analysis- Asia Pacific Acetonitrile Industry
- 11.1. Competitive Dashboard
- 11.2. Company Profiles
- 11.2.1. Honeywell International, Inc
- 11.2.2. Thermo Fisher Scientific, Inc.
- 11.2.3. INEOS Group Holdings S.A
- 11.2.4. Asahi Kasei Corporation
- 11.2.5. PetroChina Company Limited (China National Petroleum Corporation)
- 11.2.6. Formosa Plastics Group
- 11.2.7. Avantor, Inc.
- 11.2.8. Nantong Acetic Acid Chemical Co., Ltd.
- 11.2.9. Neuchem Inc.
- 11.2.10. Nova Molecular Technologies, Inc.
- 11.2.11. Others
12. 360 Degree Analyst View
13. Appendix
- 13.1. Research Methodology
- 13.2. References
- 13.3. Abbreviations
- 13.4. Disclaimer
- 13.5. Contact Us
List of Tables
- TABLE List of data sources
- TABLE Market drivers; Impact Analysis
- TABLE Market restraints; Impact Analysis
- TABLE Asia Pacific Acetonitrile Market: Type Snapshot (2023)
- TABLE Segment Dashboard; Definition and Scope, by Type
- TABLE Asia Pacific Acetonitrile Market, by Type 2019-2032 (USD Million)
- TABLE Asia Pacific Acetonitrile Market: Application Snapshot (2023)
- TABLE Segment Dashboard; Definition and Scope, by Application
- TABLE Asia Pacific Acetonitrile Market, by Application 2019-2032 (USD Million)
- TABLE Asia Pacific Acetonitrile Market: End-User Snapshot (2023)
- TABLE Segment Dashboard; Definition and Scope, by End-User
- TABLE Asia Pacific Acetonitrile Market, by End-User 2019-2032 (USD Million)
- TABLE Asia Pacific Asia Pacific Acetonitrile Market, by Country, 2019-2032 (USD Million)
List of Figures
- FIGURE Asia Pacific Acetonitrile Market Segmentation
- FIGURE Market research methodology
- FIGURE Value chain analysis
- FIGURE Porter's Five Forces Analysis
- FIGURE Market Attractiveness Analysis
- FIGURE COVID-19 Impact Analysis
- FIGURE Pre & Post COVID-19 Impact Comparision Study
- FIGURE Competitive Landscape; Key company market share analysis, 2023
- FIGURE Type segment market share analysis, 2023 & 2032
- FIGURE Type segment market size forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Application segment market share analysis, 2023 & 2032
- FIGURE Application segment market size forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE End-User segment market share analysis, 2023 & 2032
- FIGURE End-User segment market size forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Asia Pacific Asia Pacific Acetonitrile Market share and leading players, 2023
- FIGURE Asia Pacific Asia Pacific Acetonitrile Market share analysis by country, 2023
- FIGURE India Asia Pacific Acetonitrile Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE China Asia Pacific Acetonitrile Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Japan Asia Pacific Acetonitrile Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE South Korea Asia Pacific Acetonitrile Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Australia Asia Pacific Acetonitrile Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Thailand Asia Pacific Acetonitrile Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Indonesia Asia Pacific Acetonitrile Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Philippines Asia Pacific Acetonitrile Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Rest of APAC Asia Pacific Acetonitrile Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
